Charity registration number: 246773 Nottingham Liberal Synagogue Annual Report and Financial Statements for the Year Ended 31 December 2023 Community A¢Lounting Plus Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL
Nottingham Liberal Synagogue Contents (continued) Reference and Administrative Details Trustees, Report 2to4 Statement of Truste¢s' Responsibilities Independent Examiner's Report Statement of Financial Activities 7t08 Balance Sheet Notes to the Financial Statements IOto20
Nottingham Liberal Synagogue Reference and Administrative Details Trustees Susan King. Honorary Chair Anlony Moss. Honordry Vice Chair Nomian Glyn Jacobs, Honorary Treasurer Jeffrey Book. Joint Honorary Secretary Rachel Reeves, Joint Honorary Secretary Paula Scott, President David Bogod, Vice President Peter Gordon Naomi Posner Nick Rubins Catherine Strauss Allyson Kingsley Michelle Hillary Ayari Tudor-Jones David Lipman, (Holding Trustee) Danny Rubins. (Holding Trustee) Dr Michael Harris. (Holding Trustee) Rabbi Gill Zidkij'ahu Senior Management Team Charity Registration Number 24677) Principal Office Lloyd Street Sherw'ood Nottingham NG5 4BP Independent Examiner Jolm O'Brien. employee of Community Accounting Plus Units l & 2 North West 41 Talbot Street Nottin2ham NGI 5GL Page I
Nottingham Liberal Synagogue Trustees, Report The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2023. Trustees and officers The trustees and officers serving during the year and since the year end were as follows.. Trustees.. Susan King. Honorary Chair Antony Moss. Honorary Vice Chair Nom]an Glyn Jacobs. Honorary Treasurer (appointed 2J April 202J) Jeffrey Book. Joint Hov]orary Secretary Rachel Reeves. Joint Honorary Secretary Paula Scott, President David Botsod. Vice President (appoTnted 2J April 2023) Peter Gordon (appointed 2) April 202J) Naomi Posner Nick Rubins Catherine Strauss Allyson Kingsley Michelle Hillary Ayari Tudor-Jones David Lipman, (Holding Trustee) Danny Rubins, (Holding Trustee) Dr Michael Harris. (Holding Trustee) Darren Barker (resitsned 2) April 202)) Jonathan Corne (resigned 2) April 2023) Strueture* governance and management Nature ofgoverning documenl The Charity is operated under the wles of its constitution adopted 1st April 1965 and most recently amended 24th April 2022. Induction and training oflruslees All new Trustees are briefed by the Chair as io their dulles and responsibilities at their first meeting attended. Where specific training is identified or necessarv. to ensure ihat Trnstees can carry out their responsibilities, this training is undertaken. All Trustees sign a declaration that they are eligible to act as Trustees of the congregatioii as required by the Charities Commission. Page 2
Nottingham Liberal Synagogue Trustees, Report (continued) Objectives and actii'ities Objects and aims The object of the Congregation is the advancement of Liberal and Progressive Judaism. In furtherance of this, the Congregation has the following obligations- a) To provide and maintain a place olworship and spiritual leadership- b) To conduct services- c) To provide religious education for members and their children- d) To provide facilities for the instruction of proselytes under the rule5 of Liberal Judaism. e) To 501emnise baby ble55ing5, BarlBatmitzvah. Kabbalat Torah. Marriage5. Buria15 and Cretnations for Inernbets; 0 To perfonn such other religious, social and charitable activities as the Council shall detennine; g) To use its best endeavours to play an aclive role in the life of the je.ish and wider communities; h) To be a member of Liberal Judaism and to support its aims. Public benefi¢ The trustees confirm that theN have complied with the requirements of section 17 of the Charities Act 201 I to have due regard to the public benefit guidance published by the Charity Cotnmission lor England and Wales. Achievements and performanee Chair's report by Susan King 2022 was a year of cautious return to in person events and activities: as well as featuring the recruitment and start of our new rabbi. Gill Zidkiyahu. In contrast. 2023 has seen an increase in activities and in person attendance. The majority of our attendees at services were in person, though Zoom remains a lifeline for those who are ill or live far away. 2023 has been the first full year with Rabbi Zidkiyahu. who brings enthusiasm and genuine spirituality to services. A critical event of the past year has of course been ihe attack in Israel on October 7th, and all that followed. Rabbi Gill has been central to enabling us 10 deal with our responses to these events, sharing our thoughts and feelings, giving and receiving supporL without any differences leading to conflict. We were also heartened by the many supportive messages we received from non-jewish organisations and individuals. A major achievement this year has been the purchase of the freehold to the land on which the synagogue stands. This followed Noitin¥ham City council offering us that opportunity instead of having to pay a signifie&ntly increased rent. Thank-s are due to Suzan Rubins who conducted the negotiations. and to all the donors large and small who contributed to the fundraising. Fundraising continues, to replenish our cash reserves after this large transaction. Regular activiiies have been maintained. These include services, for which we also have to thank our Rites and Practices committee and lay leaders. Other regular pursuits with a range of leaders and participants include our film club, book club, walks, study sessions, and social activities.
Nottingham Liberal Synagogue Trustees, Report (continued) NLS Council has continued with quarterly Sunday Tnorning meeting5 to develop our comtnunity vision, our strategy in specific areas, and to support the implemenlation of these idea5. We are working on issues of welcome for both new and established member5. to m&ximise the sense of belonging that leads to engagen]ent. We are also reviewing our govemance arrangements and constitution. learning from other congregations, leading to the amendments that are being proposed at this AGM. And we are beginning to address leadership development, creating smaller roles that can forni a 'ladder' for volunteers to progress to bigger roles when they are ready. Thanks are due to our paid staff Wendy Prestney. Lauren Knifton Fainberg, Rabbi Zidkiyahu, Alex Mottier our cheder administrator, and Chris Woodw'ard our caretaker. and to all our volunteers. Susan King, April 2024 Financial review Summary The financial state of the Congregation remains satisfactory but we used £50,000 of General Funds to support the purchase of the freehold of the shul and we are beginning to use the monies saved in the Rabbinic Fund to support our annual rabbinic expenditure. Highlights 202J was a remarkable year for the congregation. In July we were able to purchase the freehold interest in the shul from Nottingham City Council. The opportunity was negotiated by a small team who also worked to raise funds of approximalely £180,000 to complete the purchase. This is a considerable achievement by a dedicated group of members to whom we owe our thanks. Funds raised by appeal to us all ere roughly £ l JO,000 and this figure is swollen by Ihe remarkable generosity of a few families. We applied about £50,000 of general funds to complete the purchase and, as you know,, w'e are se¢kin? (o "restore. those funds. The Annual Accounts The funds raised by the congregation were so substantial in 2023 that we have exceeded the threshold set by the Charity Commission below M,hich small charities are allowed to prepare "simplified," accounts and our accounts now have to be prepared on the accruals basis. Policy on reserves We hold reserves to allow us to face unforeseen financial cornmitments and expenditure. Our target is £50,000, which represents appro¥imately six months, expenditure. Reserves stand at £20),53J. We add to the reserves from time to time if the financial situation pennits. There are no current plans to draw down from the reserves. The policy is review¢d annually. Plans for future periods Aims ond A"ry objeclivesforfulureperiods Although the financial state of the Congregation is satisfactory, the congregation cannot wholly support, from annual income, both the costs of the synagogue and the costs of a rabbi. This has been the result of the wholly commendable and brave decisions taken by Council over many years to invest in both the shul and its Rabbi. The expenditure is investment in the congregation itself. Nevertheless. the reserves of the Rabbinic Fund are being used to maintain our expenditure. This is wholly supportable for a few years but. ii) the longer tern), the congregation tnust either raise further funds or reduce its expenditure. Page 4
Nottingham Liberal Synagogue Statement of Trusteesl Responsibilities The trustees are responsiThle for preparing the tnlee5. report and the financial statements in accordance with the United Kingdom Accowiring Standards (United Kingdom GeDernUy Accwed Ac¢ouDting Practice) and applicable law and regulations. The law applicable to charities requires the tNsiees to pr¢parc fmancial statements for each fmancial year which give a true and flir view of the $12te of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preptiring these financial Staents. the trustees are required to.. select suitablc accounting policies and then appty them consistently: observe the methods aDd principle5 in the Charities SORP; make judgements aDd estimates that are reasonable aDd pwdent. statc whether applicable accounting swidariLs have been follow subject to any material dwrtures al105¢d and explained in the financial statwnents: and prepare the fmancial statements on the going concern basis it is inappropriate to presume that the charity will continue in business. The tnteeS are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the [Tr¢ial position of the cbarity and enable them to ensure that the fmancial thtements comply with the Charities Act 2011, the Charitie5 (Accounts and RepoTts) Regthations 2008. and the provisions of the onstitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking re&sonable steps for the prevention and detcrtion olfraud aDd other ilTegul&rities. The trustees are responsible for the tnaintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and diksemination of financial 5tstements may differ from legislation in other jurtsdictions. 1910412024 and siglled on its behalf by: Approvcd by the trustees of the charity OD ... Susan King Trustee Page 5
Nottingham Liberal Synagogue Independent Examiner's Report to the trustees of Nottingham Liberal Synagogue Independent examiner's report to tbe trustees of Nottingham Liberal Synagogue I report to the trustees on my examination of the accounts of Nottingham Liberal Synagogue (the Charity) for the year ended 31 December 2023. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Charitv's accounts carried out under section 145 of the 201 l Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act. Independenl examiner's slatement Since the Charity s gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confim) that l am qualified to undertake the examination because l am a member and Fellow of the Association of Charity Independent Examiners. which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect- accounting records were not kept in respect of the Charity as required by section l JO of the Act; or 2. the account5 do not accord with those records- OT 3. the accounts do not comply M'ith the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be draw in this report in order to enable a proper understanding of the accounts to be reached. ionn u tsrien iviJc, rALA, rLCA, FCIE. employee of Community Accounting Plus Fellow of the Association of Charity Independent Examiners Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL 1910412024 Page 6
Nottingham Liberal Synagogue Statement of Finaneial Activities for the Year Ended 31 December 2023 Total 2023 Total 2022 Unrestricted Restricted Note Income and Endowments from: Donations and legacies Charitable activities Other trading activities Investment income 36,670 95,456 36,670 245,043 42,664 126,798 149.587 2.788 i,591 2,207 Total Income lJJ,665 15?.)75 286,040 173,802 Expenditure on: Raising funds Charitable activities (617) (178.900) {617) (202,002) (2.207) (157,738) (23,102) Total Expenditure {179.517) (2J,102} (202,619) (159,945) Net (expenditure)/income Gross transfers between funds (45.852) 16?,882 129,273 (16? 882) 83,421 13,857 Net movement in funds 117,OJO (J),609) 13,857 Reconciliation of funds Total funds brought fonvard 1.605.918 2J6,95J 1,84? 871 1,829,014 Total funds carried fonyard 20 1.722.948 20J.)44 1,926,292 1,842,871 All of the charity's activities derive from continuing operdtions during the abov¢ two periods. The funds breakdowTr for the period is 5howTr in note 20. The notes on pages l O to 20 fomi an integral part of these financial statements. Page 7
Nottingham Liberal Synagogue Statement of Financial Activities for the Year Ended 31 December 2023 (continued) These are the figures for the previous accounting period and are included for comparative purposes Total 2022 Unrestrieted Restricted Iyote Income and Endowments from: Donations and legacies Charitable activitie5 Other trading activities Investment income 42,664 66,fv15 2,133 696 42,664 126,798 2,133 2.207 60,153 1,511 Total Income 61,664 173,802 Expenditure on: Raising funds Charitable activities (2,207) (1?1,788) (2.207) (157.738) (J5,9iO) Total Expenditure (1 ?3,995) (35,950) (159.945} Net movement in funds (11,857) 25,714 13,857 Reconciliation of funds Total funds brought fonyard 1,617.775 211,2J9 1,8?9,014 Total funds carried fonvard 20 1.605.918 236,95J 1,84? 871 The notes on pages l O to 20 fomi an integral part of these financial statements. Page 8
Nottingham Liberal SyDagogue (Registrdtion number: 246773) BAlgn¢e Sheet as at 31 Docembor 2023 2022 Note Fixed a&ets Tangible as$ Investments 13 14 1,704.415 185,(K)O 1,522,521 185.000 ,889.415 .707.521 Current 4ssets Stocks DebtOT5 15 16 17 ,595 23,217 27.038 37,878 106.520 51,850 146,389 Creditors: Awounts fallillg due within one year Net rurrellt a55ets 18 (14,9731 {11,039) 36.877 135.350 Net assets 1.926.292 1,842.871 Fund5 of tbe charity: Restrieted income ndS Restricted f)d$ 203.344 236,953 Unrestritted income funds Unrestricted funds 1.722.948 I,(1)5,918 Tot1 funds 20 1,926292 1.842.871 Thc fEnat]cfftal *atrwncnts on pagcs 7 kn 20 wcrc appEovcd by thc tnjstees. and authorised for iwuc on 1910412024 and signcd on thew betlf ty: Trustcc The notes on ¢S 10 to 20 rOT iDtegrnl part of these financiat statcmcnt& Page 9
Nottingham Liberal Synagogue Notes to the Financial Statements for the Year Ended 31 December 2023 l Accounting policie5 Statement of compliance The financial statemenis have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial ReFK)rting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Chariiies Act 2011. Basis of preparation Nottingham Liberal Synagogue meets the definition of a public benefit entit). under FRS 102. Assets and labilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Exemption from preparing a cash flow statement Under the exemption available to smaller charities the Board of Trustees has chosen not to include a Statement of Cash Flows within the financial statements. Going concern The financial statements have been prepared on a going concern basis. The trustee5 assess whether the use ol going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. Income and endowments Volunlary income including donations, gifts, legacies and grants that provide Core funding or are of a general nature is recognised when the charity has entiilement to the income. it is probable that the income will be received and the amount can be measured with sufficient reliability. Donations and legacies Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Grants receivable Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where perfomiance conditions are attached to the grant and are yet to be meL the income is recognised as a liability and included on the balance sheet as deferred income to be released. Invcslment income Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Page 10
Nottingham Liberal Synagogue Notes to the Financial Statements for the Year Ended 31 Deeember 2023 (continued) Expenditure All expenditure is recognised once there 15 a legal or constructive obligation to that expenditure. it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that a gregates similar costs to that categorv. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Rai.singfunds These are costs incurred in attracting volunlary income, the management of investments and those incurred in trading activities that raise funds. Charilable aclivities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and Services for its beneficiaries. It includes both costs that can be allocated directl). to such activities and those costs of an indirect nature necessary to support them. Governance costs These include the Costs attribuiable to the charity's compliance with constitutional and slatutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses. Government grants Government grants are recotrnised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part ol a grdnt relating to an asset is deferred, it is reLognised a5 dcfctrcd inLomc. Taxation The charity is considered to pass the lests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporalion tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter J Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992: to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed assets costing £500.00 or more are initially recorded at cost. less any subsequent accumulated depreciation and subsequent accumulated impairnient1055es. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to MTite off the c05t or valuation, less any estimated residual value, over their expected useful economic life as folloM's= Asset class Depreciation method and rate General Equipment 20 % on a straight line basis Scrolls & Silverware No depreciation applied The cost of land included in the balance sheet but not depreciated is £1,477,632. Page I
Nottingham Liberal Synagogue Notes to the Financial Statements for the Year Ended 31 Deeember 2023 (continued) Fixed assel investments Fixed a55et investtnents. other than Programme related investments. are included at market value at the balance sheet date. Realised gains and losses on investtnents are calculated as the difference between sales proceeds and their market value at the start of the year: or their subsequent cosL and are charged or credited to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent ihe movement in market values durin2 the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. Stock Stock is valued at the lower of Cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is deiem)ined using the first-in. first-out (FIFO). Trade debtors Trade debtors are amounts due from customers lor merchandise sold or services perfomied in the ordinary course of business. Trade debtor5 are recogni5ed initially at the transaction Price. They are subsequev]tIy Tnea5ured at amortlsed cost using the effective interest method, less provision for impairment. A provision for the impainnent of debtors is established when there is obj¢clive evidence thai the charity will not be able to collect all amounis due according to the original tenns of the receivables. Cash and eash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-tern) highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade creditors Trade creditors are obligations to pay for go(MJs or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified a5 Current liabilitie5 if the charity does not have an unconditional right. at the end of the reporting period to defer settlement ol the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest meihod. Borrowings Interest-bearing borrowings are initially recorded at fair value. net of transaction costs. Interest-bearing borrow'ings are subseqiienily carried at amortised cost. with the difference betw'eeii the proceeds, net of transaction costs. and the amouni due on redemption being recognised as a charge to the over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charge5. Borrowings are classified as current liabilities unless the has an unconditional right to defer settlement of the liability for at least tw'elve months after the reporting date. Page 12
Nottingham Liberal Synagogue Notes to the Financial Statements for the Year Ended 31 Deeember 2023 (continued) Fund struclure Unrestricted income fund5 are general funds that are available for use at the trustees, discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Pensions and other posl retirement obligalions The charity operates a defined coniribulion pension scheme which is a pension plan under whiih fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution pajinents exceed the contribution due for service. the excess is recognised as a prepayment. 2 Income from donations and legacies Unreslrieled funds General Total 2023 Total 2022 Donations and legacies- Donations from companies, trusts and similar proceeds Donations from individuals Gift aid reclaimed Grants, including capital grants; Government grants 970 970 10.814 23.000 10,814 6,519 .886 1,886 36,670 42,664 3 Income from charitable activities Unrestricted funds General Restricted funds Totsl 2023 Total 2022 Restricted grants Members subscriptions Board of deputies leiy Burial fund and funera15 Fees for trips Sales Sundry receipts 149,587 149,587 58,066 30 60,153 60,048 2.000 3,705 58,066 19,035 1,150 1,150 892 95,456 149,587 24i.04J 126,798 Page l)
Nottingham Liberal Synagogue Notes to the Financial Statements for the Year Ended 31 Deeember 2023 (continued) 4 Income from other trading activitie5 Unrestricted funds General Total funds Total 2022 Fundraising income 736 7i6 5 Investment income Unrestricted funds General Restricted funds Total 2023 Total 2022 Interest receivable and similar income; Interest receivable on bank deposits 2.788 3,591 2,207 Page 14
Nottingham Liberal Synagogue Notes to the Financial Statements for the Year Ended 31 Deeember 2023 (continued) 6 Expenditure on charitable activities Unrestricted funds General Restricted funds Total 2023 Total 2022 Affiliation fees & licences Burial, funeral & memorial expenses Rabbi costs 12.086 12,086 15,929 4,674 7,400 4,674 7,400 4.901 19,652 Catering & refreshments Cheder costs Donations Equipment Utilities Insurances Management & admin costs Staff expenses Professional fees 2,815 2,815 6,375 55 2,365 6.000 55 1,130 7,172 7,172 7,390 6,922 648 6,990 15,455 5,866 4,050 1,284 6,798 6,917 648 3,822 425 3,822 425 Rent & rates Repairs & renewals Service costs Trips Wages, NI & pension Sundry payments 6,651 6,651 353 15,640 15,640 116.090 1.150 276 17.097 63,052 1.1_50 178,900 23,102 202,009 157,7J8 7 Expenditure on raising funds a) Costs of trading activities Unrestricted funds General Total 2023 Total 2022 Fundraising trading costs. Fundraising 617 617 2,207 617 617 2,?07 Page 15
Nottingham Liberal Synagogue Notes to the Financial Statements for the Year Ended 31 Deeember 2023 (continued) 8 Lyet incomingloutgoing resources Net incoming resources for the year include-. 2023 2022 Depreciation of fixed assets 581 9 Independent examiner's fees During the period. the fee5 payable (excluding VAT) to the charity's independent exan]iner Community Accounting Plus are analysed as follom's: 2023 2022 Independent examination 1,176 1,176 10 Staff costs The aggregate payroll costs were as follows- 2023 2022 Staff costs during the year were: Wanes and salaries Social security costs Pension costs 106,268 4,696 5,126 57,474 3,712 1,866 116,090 63.052 The monthly average number of persons (including senior management team) employed by the charity during the j'ear was as folloivs: 2023 2022 Nuii]ber of employees 4 (2022 - 4) of the above employee5 participated in the Defined Contribution Pension Scheme5. Contributions to the employee pension schemes for the year totalled £5,126 (2022- £1.866). The number of employees whose emoluments fell within the following bands was: 2023 2022 £70,001- £80,000 The total employee benefits of the key management personnel of the charity were £72,007 (2022 - £15,614). Page 16
Nottingham Liberal Synagogue Notes to the Financial Statements for the Year Ended 31 Deeember 2023 (continued) I l Trustees remuneration and expense5 No trustees, nor any persons connected with them, have received any ietnuneration from the charity during the year. No trust¢es have received any reimbursed expenses or any other benefits from the charity during the year. 12 Taxation The charity is a registered charity and is therefore exempt from taxation. 13 Tangible fixed assets Land and building5 General equipment Scrolls & silvenvare Total Cos1 At l January 202J Additions 1,298,061 179,571 77.770 2.904 146,690 ,522,521 182,475 At 31 December 2023 1.477.6J_ 80.674 146,690 1,704,996 Depreciation Charge for the year 581 581 At J l December 202) 581 581 Net book value At 31 December 2023 1.477.6)_ 80.093 146,690 ,704,415 At 31 December 2022 1,298.061 77.770 146,690 ,52? 521 14 Fixed asset investments 2023 2022 Other investments 185,000 185,000 Page 17
Nottingham Liberal Synagogue Notes to the Financial Statements for the Year Ended 31 Deeember 2023 (continued) Other investments Unlisted investments Total Cost or Valuation At l January 202J 185,000 185,000 At 31 December 2023 185,000 185,000 Iyet book value At 31 December 2023 185,000 185,000 At J l December 2022 185,000 185,000 15 Stock 2023 2022 Stocks 1,595 1.991 16 Debtor5 2023 2022 Trade debtors Prepaymenis 23,000 217 i6,475 1,40) 37,878 17 Cash and cash equivalents 2023 2022 Cash on hand Cash at bank 226 26,812 289 106,231 27,038 106.520 18 Creditors: amounts falling due within one year 2023 2022 Trade creditors Other taxation and social security Other creditors 7,984 4,901 2.088 8,170 2.869 14,973 11,039 Page 18
Nottingham Liberal Synagogue Notes to the Financial Statements for the Year Ended 31 Deeember 2023 (continued) 19 Contingent liabilities Members of the Burial Fund are entitled to be buried at the Synagouue's expense. The current metnbership of the Burial Fund generates a contingent liability of £?7,iOO. It is unlikel), that this risk would crystallise in any one year. 20 Funds Balanee at 31 December 2023 BalaDee at I January 2023 Incoming resources Resources expended Transfers Unrestricted funds Generol General fund 1,605.918 133,665 (179.517) 162,882 1,722,948 Restricted funds Rabbinic fund Kol Nidrei Alan Mann Scrolls res(oration Community Development worker 185,000 i.885 5,706 (5) {6,000) 188,880 6,000 4,227 4,174 17.691 (17,097) 787 Building fund (162,882) Total restricted funds 236.95J 152,375 (23.102) (162,882) 203,344 Total funds 1,842.871 286.040 (202,619) 1,926.292 The specific purpose5 for which the funds are to be applied are a5 follows: The Rabbinic Fund is used to support the cost of employing a Rabbi. the investments held in the NS&l bonds, totalling £185,000 forni part of the Rabbinic Fund. The Kol Nidrei appeal is used to collect and distribute donations to anllually Dominated charities. The Alan Mann Fund is used for bursaries to help tnembers attend synagogue an(Vor external events. The Scrolls Resioration fund is for the repair and resioration of our Sefer Torah s¢rolls. The Community Development Worker fund finances the post of Ihe Communiiy Development Worker. The Building fund is to support the enhancement and development of the synagogue buildings. The transfer from the Building fund to the General fund is the release of the restriction now that the building has been purchased. Page 19
Nottingham Liberal Synagogue Notes to the Financial Statements for the Year Ended 31 Deeember 2023 (continued) Balanee at 31 Balanee at I January 2022 Incoming resources Resources expended Dcccmbcr Transfers 2022 Unrestricted funds General General fund 1,617.776 112.lJ8 (12J,996) 1,605,918 Restricted Rabbinic fund Kol Nidrei Alan Mann Scrolls resioration Community D¢velopment worker Building fund 192,?46 10.551 (17,797) 185,000 6.294 4,174 (24,388) 4.174 (2.?25) 13.454 20,570 (18,152) 193 37,842 24,388 Totsl restricted funds 211.2J8 61,664 ()5,949) 236,953 Total funds 1,829.014 17),802 (l i9,945) 1,842,871 21 Analysis of net assels between funds Unrestricled 2023 Total funds General Restricted Tangible fixed assets Fixed asset investments Current assets Current liabilities 1,704,415 1,704,415 185,000 51.850 (14,97i) 18i,000 27.506 (8.97J} (6,000) Total net assets 1.72?.948 ?0),344 1,926,292 Unrestrieied 2022 Total funds General Restricted Tangible fjxed asset5 Fixed asset investments Current assets Current liabilities 1.522,521 1,522.521 185.000 146.389 (11,039) 185,000 55,076 3.123 91,313 (7.916) Total net assets 1.605.918 236,95J 1,842.871 22 Related party transactions There were no related party transactions in the year. Page 20